Paycom Software (NYSE:PAYC) Price Target Cut to $184.00

Paycom Software (NYSE:PAYC) had its price target reduced by stock analysts at Barclays from $193.00 to $184.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential upside of 7.42% from the company’s previous close.

Several other equities analysts have also recently issued reports on PAYC. Citigroup decreased their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Jefferies Financial Group restated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. UBS Group lifted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Piper Sandler increased their price target on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $247.25.

Paycom Software Stock Performance

NYSE PAYC traded up $4.57 during trading hours on Thursday, reaching $171.29. The stock had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04. The stock has a market cap of $9.86 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The stock has a fifty day moving average of $189.34 and a 200 day moving average of $194.47.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The business had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Paycom Software by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after buying an additional 137,583 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Paycom Software by 18.8% during the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after acquiring an additional 180,202 shares during the last quarter. Brown Capital Management LLC grew its holdings in shares of Paycom Software by 10.1% in the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after purchasing an additional 71,272 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Paycom Software by 16,173.6% during the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.